Negotiating with an IMO/FMO

[moneycage 2018]

More than a couple. Plus several contracts direct to the companies.

I should clarify also that I am a Life insurance agent. Not an FE, Term, Whole Life, IUL, UL only agent.

It is very common for Independent Life Insurance agents to have multiple contracts with multiple "uplines". Same as all independent uplines tend to have multiple contracts with multiple companies and uplines.

I also have several contract numbers with some companies. Example: I have multiple Protective numbers through multiple uplines.

Sounds complicated. But it is not. Again, pretty common in the independent Life Insurance world.

Edit: some of my contracts are very old. Other than specific products or a IMO specialty. There is no reason to spread your business to thin. If you are newer. Stick with just a couple. IMohsoHO

OK so for example with Final Expense you could be contrated with one IMO, then with another for Whole Life.

or Be captive with FE and be Independent for Whole Life or be with 2 FE IMOs and 1 with Whole Life.

Its seems like unless you were extremely organized, that that could become very confusing when you start writing business.

 

[WinoBlues]

OK so for example with Final Expense you could be contrated with one IMO, then with another for Whole Life.

or Be captive with FE and be Independent for Whole Life or be with 2 FE IMOs and 1 with Whole Life.

Its seems like unless you were extremely organized, that that could become very confusing when you start writing business.

FE is a bit different. For some. Some are more "captive independent" maybe justified depending on what they bring to the table. But releases come into play more with FE IMO's than with Traditional Life Insurance. Seems like a wink and a nod agreement between the IMOs and the companies.

If you are going to focus on FE and are new, a captive independent set up may work best. Until it doesn't. And at some point it won't. Training and hand holding has a price.

I started out captive and am glad I did.

 

[myinsurebiz]

OK so for example with Final Expense you could be contrated with one IMO, then with another for Whole Life.

or Be captive with FE and be Independent for Whole Life or be with 2 FE IMOs and 1 with Whole Life.

Its seems like unless you were extremely organized, that that could become very confusing when you start writing business.

Get contracts and write some biz.

What do you want to sell? Life? SIWL? Term?

 

[moneycage 2018]

Get contracts and write some biz.

What do you want to sell? Life? SIWL? Term?

I am leaning toward FE, just because I have heard it is the fastest money maker in terms of the sales close more frequently because of the clientele. then cross-sell with medicare

 

[Todd King]

Get contracts and write some biz.

What do you want to sell? Life? SIWL? Term?

Wow! Did you finally wake up? Isn't that the same advice that we gave you 100 times over?

 

[Todd King]

I am leaning toward FE, just because I have heard it is the fastest money maker in terms of the sales close more frequently because of the clientele. then cross-sell with medicare

Wrong! You don't cross-sell Medicare from FE...you cross-sell from Medicare to FE.

 

[moneycage 2018]

Wrong! You don't cross-sell Medicare from FE...you cross-sell from Medicare to FE.

That is an eye opener

 

[goillini52]

Wrong! You don't cross-sell Medicare from FE...you cross-sell from Medicare to FE.

Tell him why Todd.

 

[moneycage 2018]

Tell him why Todd.

I tried to google WHY.. and instead I found a youtube of Medicare Advantage vs Supplemental. Now I know why I have been told sell some FE before even getting a Health License. Medicare seems like a beast.

 

[goillini52]

I tried to google WHY.. and instead I found a youtube of Medicare Advantage vs Supplemental. Now I know why I have been told sell some FE before even getting a Health License. Medicare seems like a beast.

Most FE clientele can't afford a Med Supp, they are prospects for cross selling Medicare Advantage to, because it has low to no premium.

FE....cross sell Medicare Avantage.

Med Supps.....cross sell FE.

The Med Supp prospect will have more money(better persistency) and be able to afford additional policies. Also, nicer houses. You won't run into much cat piss, dog crap on the floor, a wide variety of bugs(cockroaches, ants, bed bugs, etc.) and sh*t splattered toilets as you would on the FE Circuit.